KELLANOVA (KEL.DE) Stock Fundamental Analysis
FRA:KEL - Deutsche Boerse Ag - US4878361082 - Common Stock - Currency: EUR
KEL gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 59 industry peers in the Food Products industry. KEL scores excellent on profitability, but there are concerns on its financial health. KEL is valued expensive and it does not seem to be growing.
1. Profitability
1.1 Basic Checks
In the past year KEL was profitable.
In the past year KEL had a positive cash flow from operations.
In the past 5 years KEL has always been profitable.
KEL had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
KEL's Return On Assets of 8.92% is amongst the best of the industry. KEL outperforms 91.53% of its industry peers.
KEL has a Return On Equity of 35.25%. This is amongst the best in the industry. KEL outperforms 96.61% of its industry peers.
Looking at the Return On Invested Capital, with a value of 13.11%, KEL belongs to the top of the industry, outperforming 96.61% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for KEL is significantly above the industry average of 6.91%.
The 3 year average ROIC (11.99%) for KEL is below the current ROIC(13.11%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.92% | ||
| ROE | 35.25% | ||
| ROIC | 13.11% |
ROA(3y)6.62%
ROA(5y)7%
ROE(3y)29.96%
ROE(5y)34.02%
ROIC(3y)11.99%
ROIC(5y)11.58%
1.3 Margins
KEL's Profit Margin of 10.92% is amongst the best of the industry. KEL outperforms 83.05% of its industry peers.
In the last couple of years the Profit Margin of KEL has grown nicely.
With an excellent Operating Margin value of 15.51%, KEL belongs to the best of the industry, outperforming 84.75% of the companies in the same industry.
KEL's Operating Margin has improved in the last couple of years.
KEL has a Gross Margin of 36.59%. This is comparable to the rest of the industry: KEL outperforms 49.15% of its industry peers.
In the last couple of years the Gross Margin of KEL has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 15.51% | ||
| PM (TTM) | 10.92% | ||
| GM | 36.59% |
OM growth 3Y5.23%
OM growth 5Y6.89%
PM growth 3Y0.13%
PM growth 5Y8.3%
GM growth 3Y3.3%
GM growth 5Y2.28%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), KEL is creating some value.
The number of shares outstanding for KEL has been increased compared to 1 year ago.
KEL has more shares outstanding than it did 5 years ago.
KEL has a better debt/assets ratio than last year.
2.2 Solvency
An Altman-Z score of 3.46 indicates that KEL is not in any danger for bankruptcy at the moment.
With an excellent Altman-Z score value of 3.46, KEL belongs to the best of the industry, outperforming 88.14% of the companies in the same industry.
The Debt to FCF ratio of KEL is 6.51, which is on the high side as it means it would take KEL, 6.51 years of fcf income to pay off all of its debts.
With a Debt to FCF ratio value of 6.51, KEL perfoms like the industry average, outperforming 49.15% of the companies in the same industry.
KEL has a Debt/Equity ratio of 1.43. This is a high value indicating a heavy dependency on external financing.
KEL's Debt to Equity ratio of 1.43 is on the low side compared to the rest of the industry. KEL is outperformed by 81.36% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.43 | ||
| Debt/FCF | 6.51 | ||
| Altman-Z | 3.46 |
ROIC/WACC1.63
WACC8.02%
2.3 Liquidity
KEL has a Current Ratio of 0.80. This is a bad value and indicates that KEL is not financially healthy enough and could expect problems in meeting its short term obligations.
KEL's Current ratio of 0.80 is on the low side compared to the rest of the industry. KEL is outperformed by 86.44% of its industry peers.
A Quick Ratio of 0.52 indicates that KEL may have some problems paying its short term obligations.
KEL has a Quick ratio of 0.52. This is in the lower half of the industry: KEL underperforms 72.88% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.8 | ||
| Quick Ratio | 0.52 |
3. Growth
3.1 Past
The earnings per share for KEL have decreased by -8.11% in the last year.
The Earnings Per Share has been decreasing by -0.46% on average over the past years.
The Revenue has been growing slightly by 2.96% in the past year.
The Revenue has been decreasing by -1.25% on average over the past years.
EPS 1Y (TTM)-8.11%
EPS 3Y-2.63%
EPS 5Y-0.46%
EPS Q2Q%-10.89%
Revenue 1Y (TTM)2.96%
Revenue growth 3Y-3.49%
Revenue growth 5Y-1.25%
Sales Q2Q%-3.66%
3.2 Future
Based on estimates for the next years, KEL will show a small growth in Earnings Per Share. The EPS will grow by 4.63% on average per year.
The Revenue is expected to grow by 2.24% on average over the next years.
EPS Next Y0.16%
EPS Next 2Y2.19%
EPS Next 3Y2.96%
EPS Next 5Y4.63%
Revenue Next Year0.59%
Revenue Next 2Y1.38%
Revenue Next 3Y1.95%
Revenue Next 5Y2.24%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
4. Valuation
4.1 Price/Earnings Ratio
KEL is valuated rather expensively with a Price/Earnings ratio of 21.33.
KEL's Price/Earnings ratio is in line with the industry average.
When comparing the Price/Earnings ratio of KEL to the average of the S&P500 Index (27.29), we can say KEL is valued slightly cheaper.
A Price/Forward Earnings ratio of 19.85 indicates a rather expensive valuation of KEL.
66.10% of the companies in the same industry are cheaper than KEL, based on the Price/Forward Earnings ratio.
KEL is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 21.74, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.33 | ||
| Fwd PE | 19.85 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of KEL indicates a slightly more expensive valuation: KEL is more expensive than 69.49% of the companies listed in the same industry.
61.02% of the companies in the same industry are cheaper than KEL, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 32.08 | ||
| EV/EBITDA | 13.89 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
The excellent profitability rating of KEL may justify a higher PE ratio.
PEG (NY)129.43
PEG (5Y)N/A
EPS Next 2Y2.19%
EPS Next 3Y2.96%
5. Dividend
5.1 Amount
KEL has a Yearly Dividend Yield of 2.85%. Purely for dividend investing, there may be better candidates out there.
KEL's Dividend Yield is a higher than the industry average which is at 3.27.
Compared to an average S&P500 Dividend Yield of 2.37, KEL pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.85% |
5.2 History
The dividend of KEL has a limited annual growth rate of 1.51%.
Dividend Growth(5Y)1.51%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
KEL pays out 56.67% of its income as dividend. This is a bit on the high side, but may be sustainable.
The dividend of KEL is growing, but earnings are growing more, so the dividend growth is sustainable.
DP56.67%
EPS Next 2Y2.19%
EPS Next 3Y2.96%
FRA:KEL (7/7/2025, 7:00:00 PM)
68.04
+0.14 (+0.21%)
Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryFood Products
Earnings (Last)
Earnings (Next)
Inst Owners82.54%
Inst Owner ChangeN/A
Ins Owners0.44%
Ins Owner ChangeN/A
Market Cap23.61B
Analysts54.55
Price Target74.19 (9.04%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.85% |
Yearly Dividend1.92
Dividend Growth(5Y)1.51%
DP56.67%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-1.95%
Min EPS beat(2)-12.53%
Max EPS beat(2)8.62%
EPS beat(4)3
Avg EPS beat(4)2.8%
Min EPS beat(4)-12.53%
Max EPS beat(4)9.89%
EPS beat(8)7
Avg EPS beat(8)7.81%
EPS beat(12)11
Avg EPS beat(12)7.62%
EPS beat(16)15
Avg EPS beat(16)8.34%
Revenue beat(2)0
Avg Revenue beat(2)-3.1%
Min Revenue beat(2)-4.93%
Max Revenue beat(2)-1.26%
Revenue beat(4)1
Avg Revenue beat(4)-1.62%
Min Revenue beat(4)-4.93%
Max Revenue beat(4)0.37%
Revenue beat(8)3
Avg Revenue beat(8)-0.28%
Revenue beat(12)7
Avg Revenue beat(12)0.61%
Revenue beat(16)10
Avg Revenue beat(16)0.52%
PT rev (1m)-0.23%
PT rev (3m)-3.47%
EPS NQ rev (1m)-0.41%
EPS NQ rev (3m)-3.06%
EPS NY rev (1m)0.35%
EPS NY rev (3m)-3.35%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.64%
Revenue NY rev (1m)0.15%
Revenue NY rev (3m)-0.75%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.33 | ||
| Fwd PE | 19.85 | ||
| P/S | 2.19 | ||
| P/FCF | 32.08 | ||
| P/OCF | 18.31 | ||
| P/B | 7.07 | ||
| P/tB | N/A | ||
| EV/EBITDA | 13.89 |
EPS(TTM)3.19
EY4.69%
EPS(NY)3.43
Fwd EY5.04%
FCF(TTM)2.12
FCFY3.12%
OCF(TTM)3.72
OCFY5.46%
SpS31.05
BVpS9.62
TBVpS-7.08
PEG (NY)129.43
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.92% | ||
| ROE | 35.25% | ||
| ROCE | 17.6% | ||
| ROIC | 13.11% | ||
| ROICexc | 13.49% | ||
| ROICexgc | 33.43% | ||
| OM | 15.51% | ||
| PM (TTM) | 10.92% | ||
| GM | 36.59% | ||
| FCFM | 6.83% |
ROA(3y)6.62%
ROA(5y)7%
ROE(3y)29.96%
ROE(5y)34.02%
ROIC(3y)11.99%
ROIC(5y)11.58%
ROICexc(3y)12.48%
ROICexc(5y)11.99%
ROICexgc(3y)36.74%
ROICexgc(5y)35.13%
ROCE(3y)15.6%
ROCE(5y)14.99%
ROICexcg growth 3Y9.44%
ROICexcg growth 5Y7.97%
ROICexc growth 3Y8.64%
ROICexc growth 5Y9.53%
OM growth 3Y5.23%
OM growth 5Y6.89%
PM growth 3Y0.13%
PM growth 5Y8.3%
GM growth 3Y3.3%
GM growth 5Y2.28%
F-Score7
Asset Turnover0.82
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.43 | ||
| Debt/FCF | 6.51 | ||
| Debt/EBITDA | 2.41 | ||
| Cap/Depr | 174% | ||
| Cap/Sales | 5.14% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 64.84% | ||
| Profit Quality | 62.54% | ||
| Current Ratio | 0.8 | ||
| Quick Ratio | 0.52 | ||
| Altman-Z | 3.46 |
F-Score7
WACC8.02%
ROIC/WACC1.63
Cap/Depr(3y)144.93%
Cap/Depr(5y)131.73%
Cap/Sales(3y)4.42%
Cap/Sales(5y)4.17%
Profit Quality(3y)102.41%
Profit Quality(5y)100.55%
High Growth Momentum
Growth
EPS 1Y (TTM)-8.11%
EPS 3Y-2.63%
EPS 5Y-0.46%
EPS Q2Q%-10.89%
EPS Next Y0.16%
EPS Next 2Y2.19%
EPS Next 3Y2.96%
EPS Next 5Y4.63%
Revenue 1Y (TTM)2.96%
Revenue growth 3Y-3.49%
Revenue growth 5Y-1.25%
Sales Q2Q%-3.66%
Revenue Next Year0.59%
Revenue Next 2Y1.38%
Revenue Next 3Y1.95%
Revenue Next 5Y2.24%
EBIT growth 1Y23.29%
EBIT growth 3Y1.56%
EBIT growth 5Y5.55%
EBIT Next Year19.54%
EBIT Next 3Y9.19%
EBIT Next 5Y7.16%
FCF growth 1Y-17.57%
FCF growth 3Y-0.47%
FCF growth 5Y13.92%
OCF growth 1Y-5.5%
OCF growth 3Y1.14%
OCF growth 5Y8.4%